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October 2013 » Market Analysis » New York Office Report
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NYC Office Space Graphs and Statistics
| NEW YORK CLASS A OFFICE VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office Class A | 14.78 | 2.57 | 17.35 | 9.3 % | 10.04 % |
| Midtown South Manhattan Office Class A | 0.98 | 0.02 | 1.0 | 9.7 % | 12.31 % |
| Downtown Manhattan Office Class A | 6.93 | 0.5 | 7.43 | 11.1 % | 32.08 % |
| Total Manhattan Office Class A | 22.7 | 3.08 | 25.78 | 9.7 % | 16.48 % |
| NEW YORK CLASS A OFFICE VACANT SPACE NOW AND IN THE NEXT TWO YEARS (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
| Midtown Manhattan Office Class A | 23.77 | 5.75 | 29.52 | 12.84 % | 10.04 % |
| Midtown South Manhattan Office Class A | 1.25 | 0.03 | 1.27 | 8.61 % abc | 12.31 % |
| Downtown Manhattan Office Class A | 14.52 | 1.54 | 16.06 | 18.61 % | -2.52 % |
| Total Manhattan Office Class A | 39.54 | 7.32 | 46.85 | % | 0.09 % |
Manhattan Class A Office Vacancies
- Total Manhattan Office Class A vacancies increased from 21.53 million RSF to 25.78 million RSF
- Total Manhattan Office Market vacancies increased from 32.61 million RSF to 37.64 million RSF
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
|---|---|---|---|---|---|
| Midtown Manhattan Office | 19.09 | 3.04 | 22.12 | 8.2 % | 8.3 % |
| Midtown South Manhattan Office | 5.78 | 0.3 | 6.09 | 7.1 % | -0.05 % |
| Downtown Manhattan Office | 8.64 | 0.78 | 9.42 | 9.2 % | 33.85 % |
| Total Manhattan Office | 33.52 | 4.12 | 37.63 | 8.2 % | 13.35 % |
| NEW YORK TOTAL OFFICE MARKET VACANT SPACE NOW AND IN THE NEXT TWO YEARS (In Millions of Rentable Square Feet) |
|||||
| Direct | Sublease | Total | % Vacant | % Monthly Change | |
| Midtown Manhattan Office | 30.58 | 6.76 | 37.33 | 11.36 % | 8.3 % |
| Midtown South Manhattan Office | 9.0 | 1.14 | 10.14 | 9.65 % abc | -0.05 % |
| Downtown Manhattan Office | 17.62 | 2.04 | 19.66 | 15.22 % | -1.76 % |
| Total Manhattan Office | 57.2 | 9.94 | 67.14 | % | -0.41 % |
Manhattan Office Vacancy Market
- Total Manhattan Office direct lease vacancy increased from 29.29 million RSF to 33.52 million RSF.
- Manhattan Office Sublease vacancy increased from 3.32 million RSF to 4.12 million RSF.
Manhattan Office Rent Vacancy by Area
- Total Manhattan Office Market vacancy increased from 32.61 million RSF to 37.63 million RSF.
- Total Midtown Office vacancy increased from 20.29 million RSF to 22.12 million RSF.
- Total Midtown South Office vacancy decreased from 6.09 million RSF to 6.09 million RSF
- Total Downtown Office vacancy increased from 6.23 million RSF to 9.42 million RSF.
